FireEye Shot Down To New All-Time Low After Q3 Miss

FireEye Inc FEYE shares are trading lower by $7.05 at $22.07 in Thursday's session. The catalyst for the move to a new all-time low is a wider-than-expected Q3 loss of $0.08 on slightly lower revenues. The thrashing from the after-hours and pre-market sessions has continued into the regular session.

After $5 lower open, it briefly rallied to $24.09 before another wave of sellers flooded the issue. So far, it has reached $21.88 and is not far off that level.

It should be noted the rout is taking place on much heavier than average volume. At this tine, over 23 million shares have traded compared to its 20-day average of six million with over four hours remaining.

See Also: FireEye Has 'Darker Days' Ahead, Dan Ives Warns

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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